As the Dow Jones Industrial Average climbs to its best month in decades, investors may be looking for the stocks poised to continue the upward momentum. The 30-stock index has been on a tear in October. It notched a four-week winning streak for the first time since November 2021 and is up 14% on the month. If the gains hold Monday, it will be the best month for the index since 1976. The S & P 500 and tech-heavy Nasdaq are also up for the month but lagging the Dow.
Analysts at Goldman Sachs cut their near-term earnings estimates and price target slightly but see changes that the company is making as beneficial in the long-term. "Looking beyond near-term dynamics, we remain constructive as we see the company well positioned to continue to win deals and expand its wallet share within its existing customer-base, even in a slower growth environment," wrote analyst Kash Ragan in an Oct. 25 note.